Meta ordered to pay $24.66M amid Revenue Decline
Technology conglomerate Meta has been the talk of the town of late. A few hours back, the company released its revenue figures. Its earnings had been hit hard by its spending on the metaverse and its slowing growth in social networking and digital advertising. Amid all this, the company has been ordered to pay roughly $25 million to the state of Washington for violating the state’s law on online political ads. Meta in hot water? Seattle Judge Douglass North has ruled that the social media giant will have to pay $24,660,000 for 822 violations of the states’ law mandating transparency in political ads . Per the Judge, Meta intentionally and repeatedly breached the state’s laws since over the last few years and committed hundreds of violations. Outlining the same, the official release noted, “ Today, Judge North ordered Facebook to pay the maximum penalty : $24,660,000. This represents the largest campaign finance penalty anywhere in the country...